I don't think they hid the point that he was issued stock? I thought it was pretty obvious? Which is why they're talking about it now, because the value of those stocks shot up because they went public
replyYet they keep talking about an emphasizing how he was a hardworking welder first when, frankly, it’s borderline irrelevant to his being a millionaire.
replyThe thumbnails often just tell the welder story, for instance. It’s very clever (misleading).
Yes! What's wild is that the story is a microcosm of what's wrong with the economy as a whole, where his work was worthless in comparison to his winning lottery ticket, which itself was (charitably) 10% due to SpaceX achieving its original mission and 90% due to investor optimism about AI datacenters in space.
reply> My response is “great! Let businesses take a lesson here: give all your employees a chunk of the company. Let’s all share in the success!”
replyDon't >95% of tech companies offer stock options or equity, from startups to FAANG?
A cursory search says 74-90% (in the US), but also that’s just tech companies and usually you need to be early. It’s also often in the form of options that take years to exercise and companies have gotten very creative lately in how they screw people out of them.
replyLooooots of caveats here.